APRA has published a speech by Charles Littrell its Executive General Manager, Policy, Research and Statistics, on Prudential Issues in Securitisation.

The speech gives useful background on recent changes to securitisation rules in APS 120 including covered bonds and discusses securitisation in the context of capital, liquidity and risk.

To put securitisation into context as only one source of funding, it is worth reading this speech by Guy Debelle, the Reserve Bank’s Assistant Governor (Financial Markets).